The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-11-02
IT IS NOT A CONSOLIDATION
The indianapolis Company Is Absolute
Owner of thesGas Pipeline Plant.
The Other Companies Contract to Complete
the Noblesville Line Before January 1
-0rganizationof the Gas Trust Board.

| A dispatch from Pittsburg. yesterday after
| noon, represented ID M. Guffey as saying that
| the arrangement between the Indianapolis COM
| pany and the Standard and Guffey people is 10
| the nature of q Consolidation. The home COM
| pany has reasons of its for refusing to 60
into the details of the deals but they do not IN
any manner relate to consolidation or allied
interests. The Indianapolis company is the
owner of the entire property. for which a large
cash sum and a. bonded interest were
given. In laying the pipe line the
Standard and Guffeys are dealing
with the Indianapolis company with any other
customers, the deed of sale covering pipe line.
wells and leases. What the purchasers paid for
this valuable property they decline to make pub
lie, but the statement the other day that Samuel
O'Day, of the Standard and j. NJ. Guffey, re-
ceived check for 5000 900 is not far from the
truth. The lines under the control of the home
company cover, so Mr.. Guffey says, from 40 600
to SO, coo acres. AS to the line, the National
tube works to furnish 105. 600 feet of twelve
inch wrought iron pipe. three carloads of which
reached Noblesville yesterday.
In the consumma tion Of this extensive trade
Indianapolis capital only has been used, and it
is contemplated to expend about $500, 900 more
in the plant after the present Standard-Gufey
contract is carried out. so the entire cost Will
reach something near 81 600 O0O If there
any doubts that this work is not to be accom-
plished before the first of January, it is sufi
cient to state that the Standard is not
toned to put itself in position where daily
loss must be sustained after specified time un
til a contract is completed While the Indian
apois company is not directly laying the pipes,
the work is done at its expense and the Stand
ard and the Guffsy must fulfill the contract by
the date mentioned be the losers
to a considerable extent work done after the
first day of next year. The Indianapolis compa-
ny desires to keep out of any further agitation,
and attend solely to the creation of its plant
What is to occur when the pipes reach the city
or its neigh borhood the directors trust will be
of such character to make things satisfacto-
ry to the people and competing companies. 10
bring this about however, they will take no
active steps, as they believe the fact that gas
has been brought to Indianapolis will go fur
Their than any thing else in doing away with the
difficulties that have attended their enterprise
from the outset
The Consumers Gas Trust Company
active, yesterday in completing its arrange
ments. In the forenoon the trustees held a long
session. at which the following gentlemen were
named as directors: Robert II. Lamb Frederick
Fahnley Edward Claypool. John H. Holiday,
Julius p. Pratt. John P Frenze Thomas Davis,
Eli Lilly and Henry Coburn All but MIR. Holli
day accepted. He declined because he thought
his duties in connection with his newspaper
would interfere. In the evening the directors
met at the Board Of Trade rooms and organized
by electine officers as follows
President-R n. Lamb.
Representations Coburn.
Treasurer-E. F. Claypool.
Secretary-A. f. Potts.
After this the financial plan was thoroughly
discussed the result being the adoption of
olution issue a call for 20 per cent of the
stock payable in ten days when the 100000
shall have been subscribed Other assessments
in three instalments of 10 per cent each to
follow in thirty. sixty and ninety days. When
this is paid in further assessments will be made
monthly. each of which is not to exceed 10 per
cent. Subscription books to be ready for
distribution this afternoon, at o'clock.
a. ,ar. the s Board 51isnd. .b Trade
who wish to assist in canvassng for stock sub
scrptions are requested to meet at that hour
A circular IS to be sent out explaining the enter
prise and the details of the plan Of organization
Non resident real estate owners to be MADE
conversant with the scheme in this manner, and
solicited to subscribe for stock In Fastening
the local subscriptions ward meetings are to be
held, at which speeches will be made by attor-
neys and business men, so the people have
clearly before them the legal and financial feat
ures of the trust
1t was the opinion of Thomas F. Davis that
piping can go all winter, and upon this assur-
ance it was resolved, just as soon as the
from Noblesvie. where the trust has offer OF
5000 acres in addition to the we'll and
acres of the Cooper syndicate.
AS to prices. the directors were unanimous in
opposing ything niger than the rates they
exist in the present ordinance. A resolution in
troduced by E. T. Claypool to this effect was
adopted. and it also included an expression that
man ufacturers shall not be charged more than 6
cents per thousand feet. Several of the direct
was the opinion of the directors that matter
what the Indianapolis company might do. the
Trust company ought to be carried through, in
order to insure the ctys getting permanent
competition The directors further said they
would give their entire time to this work until it
was accomplished.